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Park Aerospace (Park Aerospace) Piotroski F-Score

: 6 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Park Aerospace has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Park Aerospace's Piotroski F-Score or its related term are showing as below:

PKE' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 6

During the past 13 years, the highest Piotroski F-Score of Park Aerospace was 8. The lowest was 3. And the median was 5.


Park Aerospace Piotroski F-Score Historical Data

The historical data trend for Park Aerospace's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Park Aerospace Annual Data
Trend Feb14 Feb15 Feb16 Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 4.00 4.00 7.00 5.00

Park Aerospace Quarterly Data
Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 5.00 5.00 7.00 6.00

Competitive Comparison

For the Aerospace & Defense subindustry, Park Aerospace's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Park Aerospace Piotroski F-Score Distribution

For the Aerospace & Defense industry and Industrials sector, Park Aerospace's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Park Aerospace's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Nov23) TTM:Last Year (Nov22) TTM:
Net Income was 4.706 + 1.854 + 1.746 + 1.203 = $9.51 Mil.
Cash Flow from Operations was 4.357 + 0.117 + -2.762 + 1.759 = $3.47 Mil.
Revenue was 13.53 + 15.551 + 12.481 + 11.639 = $53.20 Mil.
Gross Profit was 3.851 + 4.833 + 4.079 + 3.169 = $15.93 Mil.
Average Total Assets from the begining of this year (Nov22)
to the end of this year (Nov23) was
(157.627 + 159.333 + 137.443 + 128.619 + 127.507) / 5 = $142.1058 Mil.
Total Assets at the begining of this year (Nov22) was $157.63 Mil.
Long-Term Debt & Capital Lease Obligation was $0.09 Mil.
Total Current Assets was $93.77 Mil.
Total Current Liabilities was $6.43 Mil.
Net Income was 1.956 + 1.91 + 1.885 + 2.23 = $7.98 Mil.

Revenue was 12.502 + 12.783 + 13.875 + 13.867 = $53.03 Mil.
Gross Profit was 4.198 + 4.092 + 4.086 + 4.444 = $16.82 Mil.
Average Total Assets from the begining of last year (Nov21)
to the end of last year (Nov22) was
(161.736 + 160.887 + 161.054 + 158.772 + 157.627) / 5 = $160.0152 Mil.
Total Assets at the begining of last year (Nov21) was $161.74 Mil.
Long-Term Debt & Capital Lease Obligation was $0.14 Mil.
Total Current Assets was $123.31 Mil.
Total Current Liabilities was $6.35 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Park Aerospace's current Net Income (TTM) was 9.51. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Park Aerospace's current Cash Flow from Operations (TTM) was 3.47. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Nov22)
=9.509/157.627
=0.06032596

ROA (Last Year)=Net Income/Total Assets (Nov21)
=7.981/161.736
=0.04934585

Park Aerospace's return on assets of this year was 0.06032596. Park Aerospace's return on assets of last year was 0.04934585. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Park Aerospace's current Net Income (TTM) was 9.51. Park Aerospace's current Cash Flow from Operations (TTM) was 3.47. ==> 3.47 <= 9.51 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Nov23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov22 to Nov23
=0.094/142.1058
=0.00066148

Gearing (Last Year: Nov22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov21 to Nov22
=0.141/160.0152
=0.00088117

Park Aerospace's gearing of this year was 0.00066148. Park Aerospace's gearing of last year was 0.00088117. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Nov23)=Total Current Assets/Total Current Liabilities
=93.77/6.429
=14.58547208

Current Ratio (Last Year: Nov22)=Total Current Assets/Total Current Liabilities
=123.306/6.348
=19.42438563

Park Aerospace's current ratio of this year was 14.58547208. Park Aerospace's current ratio of last year was 19.42438563. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Park Aerospace's number of shares in issue this year was 20.355. Park Aerospace's number of shares in issue last year was 20.51. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=15.932/53.201
=0.29946806

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=16.82/53.027
=0.3171969

Park Aerospace's gross margin of this year was 0.29946806. Park Aerospace's gross margin of last year was 0.3171969. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Nov22)
=53.201/157.627
=0.33751197

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Nov21)
=53.027/161.736
=0.32786145

Park Aerospace's asset turnover of this year was 0.33751197. Park Aerospace's asset turnover of last year was 0.32786145. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+0+1+0+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Park Aerospace has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Park Aerospace  (NYSE:PKE) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Park Aerospace Piotroski F-Score Related Terms

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Park Aerospace (Park Aerospace) Business Description

Traded in Other Exchanges
Address
1400 Old Country Road, Suite 409N, Westbury, New York, NY, USA, 11590
Park Aerospace Corp designs develop and manufactures engineered, Advanced composite materials and composite structures and assemblies and low-volume tooling for the aerospace markets and prototype tooling for such structures and assemblies. It only operating business segments is Aerospace. Geographically, the company derives a majority of revenue from North America and also has a presence in a company operates its business in Asia and Europe. It offers Advanced Composite Prepregs for Aircraft Structures and Interiors, Sigma Strut and Alpha Strut.
Executives
Shane Connor director 10510 SPRINGBORO PIKE, MIAMISBURG OH 45342
Nickel Cory officer: Sr VP and General Manager 816 N. BLAINE ST., NEWTON KS 67114
Dale Blanchfield director 128 HAWTHORNE ROAD, HOPKINS MN 55343
D. Bradley Thress director 250 WEST SPRING STREET, UNIT 615, COLUMBUS OH 43215
Brian E Shore director, officer: President and CEO
Emily J Groehl officer: Sr. VP, Sales and Marketing
Mark A Esquivel officer: Vice President - Aerospace 48 SOUTH SERVICE ROAD, MELVILLE NY 11747
Yvonne Julian director 225 HIDDEN HILLS DRIVE, GREENVILLE SC 29605
Steven T Warshaw director
Stephen E Gilhuley officer: Senior Vice President, Secreta
P. Matthew Farabaugh officer: Vice President and Controller PARK ELECTROCHEMICAL CORP., 48 SOUTH SERVICE ROAD, SUITE 300, MELVILLE X1 11747
Benjamin Wykoff Shore officer: Senior Vice President 31 HARBOR PARK DRIVE, CENTERPORT NY 11721
Robert J Yaniro officer: VP and Corporate Controller 48 SOUTH SERVICE ROAD, MELVILLE NY 11747
Carl William Smith director 10044 E. NACOMA CT., SUN LAKE AZ 85248
Christopher T. Mastrogiacomo officer: V P of Strategic Marketing 48 SOUTH SERVICE ROAD, SUITE 300, MELVILLE NY 11747